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Price Anchoring 101

By on / Negotiation Skills

Opening offers have a strong effect in price negotiations. The first offer typically serves as an anchor that strongly influences the discussion that follows. In research documenting price anchoring, psychologists Daniel Kahneman and Amos Tversky found that even random numbers can have a dramatic impact on people’s subsequent judgments and decisions. … Read Price Anchoring 101

Negotiating a Salary When Compensation Is Public

By on / Salary Negotiations

Faced with the prospect of negotiating a salary with a new employer, job candidates often feel anxious, confused, and tentative. Historically, organizations have tended to keep information about salaries for open positions opaque, assuming they benefit when prospective employees are in the dark about how much they might earn. But new laws and broader marketplace … Read Negotiating a Salary When Compensation Is Public